Massive DOGE Interest Stays Put Amid Trading Slowdown

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A crypto trader is seated, leaning back, overwhelmed, arms spread wide, mouth open in a cry of euphoria. His glasses reflect the image of an explosive chart and a massive number: 16,000,000,000. A shower of golden Dogecoin coins fills the upper half of the image, pouring toward him like an avalanche, symbolizing the explosion of open interest.

While the entire crypto market oscillates between consolidation and correction, Dogecoin stands out with a unique behavior. Its open interest, a barometer of open positions on futures contracts, remains stable at a historically high level, nearing 16 billion DOGE, or approximately 3.36 billion dollars. This threshold is remarkable in a climate where speculative activity is significantly declining across the majority of altcoins.

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6M geleden•

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